A bill to amend the Tax Reform Act of 1986 to restore the preferential treatment for capital gains, and for other purposes.

Summary

Amends the Tax Reform Act of 1986 to repeal provisions which eliminated the 60 percent capital gains deduction for taxpayers other than corporations. Reduces the alternative tax rate for capital gains realized by a corporation from 34 percent to 14 percent.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 29 January 1987

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 29 January 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 29 January 1987

  Open at official source

Sponsors

• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Rep. Symms, Steven D. [R-ID-1] · R · Sponsor
• · ssfi00 · Standing

Related records

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